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Understanding alternative funding options for community investment

Understanding alternative funding options for community investment. Jules Tompkins, Investment Manger (CIP) Helen Wilson, Head of Strategic Partnerships and Projects (Clarion Futures) 2 1st May 2019. Outline of Session. Overview of funding options Group work to discuss funding options

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Understanding alternative funding options for community investment

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  1. Understanding alternative funding options for community investment Jules Tompkins, Investment Manger (CIP) Helen Wilson, Head of Strategic Partnerships and Projects (Clarion Futures) 21st May 2019

  2. Outline of Session • Overview of funding options • Group work to discuss funding options • Review of group work results • Q&A

  3. What is Clarion Futures • Charitable Foundation with £10m funding + £5m contracts/grants • 150 staff, services for all residents, direct delivery and commissioning

  4. What is the Community Investment Partnership (CIP) • First joint venture of its kind in the housing sector • Currently 4 partners jointly invest over £30m each year • Established £3million social investment fund Investments between £25,000 and £150,000 • Blended finance - mix of loan and grant depending on needs

  5. What are we trying to achieve with community investment funding?

  6. What funding is available? • Grants • Delivering commissioned services • Social Value from contractors • Social Investment • Blend of Support

  7. Grants • Sources are wide ranging • Need to apply • Commit to delivering specific outcomes and outputs • Time limited • Party to grant agreement and contractual clauses • No need to repay

  8. Social Value from Contractors • Large value contracts have potential to deliver social value • Need to tie social value to contract purpose • Community Investment can make requests • Clarion Futures requests jobs and training, community engagement activities, sponsorship for activities, digital interventions, staff volunteering • Need a good relationship with procurement and contract managers

  9. Delivering Services • Option to deliver commissioned services • Bid for work (can be resource intensive) • Follow procurement process • Time limited • Need to find fit between commissioned services and own interests (challenging)

  10. Social Investment • Community Investment teams can support organisations they work with/fund to access repayable finance • Funders looking to invest in businesses that have a social purpose • Value of funding and contract clauses relating to impact may vary • Interest rates for smaller, more risky, organisations may be higher • There may be a fee to secure the loan • Investment has to be repaid and need to be sure organisation is able to meet commitments • Good social investors will also want to support organisations with business development

  11. CIP Investment Terms Up to 5 year repayment term £25,000 - £150,000 Up to 1yr capital repayment holiday 7% Interest rate Additional support and resources available 1% Fee

  12. Blended Support • Social Investment + Grant • Some funds offer this blend to help developing organisations to get ahead (CIP offers this) • Grant may come with added requirements/outcome clauses • Less risky way to grow organisation

  13. Group Work • Read case study • Discuss funding options available • Agree suitable funding source (more than one might be suitable) • Discuss and list risks and opportunities associated with chosen funding source • Report back!

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